| Phillip Securities |
UOB KH |
| Health Management International Expansions continue to paint a rosy outlook FY18 Revenue and Core PATMI were in line with our expectations. Higher outpatient loads and average bill sizes boosted earnings. Continues as a medical tourism hotspot with foreign patient load growing faster than local patient load. Proposed final dividend of RM1.0 Cent per share; total dividends of RM2.0 cents per share for FY18. (26% of FY18 Core EPS). Maintain BUY with unchanged DCF-derived TP of S$0.83. Read more... |
Venture Corporation - Excluding T&M/Med clients, earnings show slowing growth. (VMS SP/HOLD/S$18.84/Target: S$18.20) A read across Venture Corporation’s (VMS) key clients shows only the Test & Measurement/Medical/Others segment showing strong signs of growth. Other segments are showing signs of slowing. Even Illumina is showing slower Instrument sales growth. We expect VMS to bank on R&D to help bottom-line in the near term. The next generation IQOS production outlook for 2019 remains unclear but could lift our earnings estimates. Maintain HOLD and target price of S$18.20. Entry: S$16.00. Read more.... |
| KGI | |
| DISA Growth plans on track with more retailers expected to come aboard 4Q18 net losses declined to S$2.6mn from S$3.9mn in 4Q17 as technology business continues to pick up speed. Growth in 3S codes has exceeded expectations while PoSA codes continue to exhibit strong growth. We re-iterate our BUY recommendation and maintain our fair value of S$0.02 based on DCF valuation. Read more... |
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